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As major Taiwanese maker announced February offers at stable to firmer levels compared to last month, Asian players started seeing more international suppliers up adjusting their prices in the revival of buying interest from Indian buyers.

In fact, Indian buyers appear to have accepted price increment from major Taiwanese maker due to the lack of availability in both market and the supply pipeline. A trader commented, “Demand in northern India is good, however the general condition might be moderated by mediocre buying interest in the West Coast. We continue to hope for better purchasing appetite in the near term.”

While India market appears to regain its ability to absorb regular allocation from major overseas makers, low priced cargoes from USA appear to become less available to open market. USA’s PVC firmed up $30/ton from last month to reach $890/ton CIF Vietnam, LC AS term with a converter commented, “Our suppliers are paying more attention to local USA market while demand in Europe is also picking up after the New Year holidays. Therefore, our suppliers are not giving mass offer this time.”

Couple of carbide based PVC producers have also decided to hold firmer stance on their cargoes pointing to the high costs emerged from strict environmental control. A producer informed, “We have suspended our offering to wait for respond from market toward new offers. However, we do plan to lift our offers slightly.”

February is considered to be a slow month across countries that celebrating Lunar New Year, however with hope for better demand condition in India – Asia largest PVC importer; most suppliers are looking at solid support for a price rebound.